As it revisits decades-old regulations on what constitutes a criminal interest rate, Canada challenges lenders to remain profitable under substantially tighter margins. These Regulations are necessary to implement amendments brought by the Budget Implementation Act, 2023, No. 1 to section 347 of the Criminal Code. The amendments will lower the criminal annual rate of interest from the current 60 per […]

Joe Patrice, senior editor at “Above The Law“, offers a helpful guide for anyone wondering how borrowing works for different people. Earlier this week, Jonathan Turley’s thirst for attention led him to go on TV to describe “car loan payments” as corruption that “none of us have seen the likes of.” Turley is, of course, […]

Two former Goldman Sachs Group Inc. bankers want to take the $1.6 trillion private credit revolution from Wall Street to Main Street. George van Dorp and Koen van Vlijmen, who both worked in the American bank’s London office, have built a product that matches small businesses with alternative lenders. Take a look at this excellent […]

Banking regulator says about $250B worth of home loans are either currently or soon to be negatively amortized. Canada’s top banking regulator will soon implement new guidelines for the mortgage market, aimed at reducing the risks posed by negative amortization mortgages — home loans where the payment terms have ballooned by years and sometimes decades because […]